Wednesday, August 2, 2017

August 2, 1871 Town Purchases 500 Shares of Railroad Stock

In the course of history, decisions are made within many towns that affect the future. A true statement in most cases, a few times, though, what looked to be a good thing didn’t turn out that way.
In the early 1870s there was excitement building within many communities; two railroads were getting ready to lay track and help with local growth with new markets for crops and new items coming into the area.
The directors of the newly formed Pennsylvania and Sodus Bay Railroad company sold shares in the company to many of the communities along the proposed rail line.
Morrison notes that of the $700,000 contract given to Col. William Johnson to “put the road in running order,” $500,000 was in town bonds. [Morrison, page 32]
Stock Certificate for 500 shares at $100 each.
Interlaken Historical Society photo collection item #444
The Town of Covert Town Board, as represented by John B. Avery, Minor T. Coburn and J. D. Wintersteen, commissioners, purchased 500 shares at one hundred dollars per share.
The Town of Covert Minute book for that time period does not have the motions and resolutions that we often look for today. What I did find was a notation in following years that the interest, $3,500 was duly paid.
The PA&SB railroad acquired rights to land, created grades, crossings and sidings throughout the towns along the route. Then the unfortunate happened, the economy went sour, and no Pennsylvania and Sodus Bay Railroad was built. In the end, the towns involved had a half-million in debt to be paid, plus the crossings, grades and in some cases timbers were left where they had been deposited.
Over the years many of those land marks have disappeared from the landscape. In a few cases the evidence is still visible. When the Interlaken Historical Society was preparing for its Trains in the Village event two years ago, I was shown several locations where the railroad line was still visible.
Looking through one of the creek bridges, the creek itself diverted around the bridge.
Author's personal collection

 
A small creek crossing on the railline
Author's personal collection


Looking south along the rail bed.
Author's personal collection. 

If you attended a carnival on the Interlaken Firemen’s field, or in recent years the car show, the gently rolling field near the west end was created that way to allow for the railroad sidings.
It took until 1926 to retire the debt from 1871. [Patterson, page 71].
Dewitt’s Diary Monday, August 2, 1971
Temperature 70 cloudy. Picked 7 quarts raspberries.
Put some fertilizer on some late cabbage.
Le went over summer fallowed ground.
A little shower late this afternoon.
A few sprinkles but very warm this afternoon.

Saw the men on the moon on TV and then they took off for home at 1:11. They join the man going around the moon and then head for a landing in the pacific ocean Saturday. 

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